M.A. in International Studies and Diplomacy, The School of Oriental and African Studies, University of London, UK
B.A. in English, Aoyama Gakuin University, Tokyo Japan
Research Interests / Specializations:
International Political Economy and the Environment; Ecological Economics; Science & Technology Studies; Environmental Justice; and Critical Management Studies (Corporate Social Responsibility & Socially Responsible Investment)
Emerging factors in global environmental governance - the expansion of global markets, the rise of corporate power and its social and environmental impact, and international/national governance deficits - raised a demand for a variety of private governance mechanisms to enforce corporate social responsibility (CSR). Such a private governance initiative is widely considered to create positive incentives and flexibility for actors to resolve market failures and to meet public expectations. Over the past decades, market mechanisms and financial considerations have increasingly taken the central role of environmental management and sustainable development at national and global levels. Among the various market-based environmental initiatives, sustainable and responsible investing (SRI) has made a remarkable growth over the past decades in both the assets under management (over $12 trillion as of 2018) and diversity of actors in its institutional alliance. While the increasing presence observed both in the mainstream financial market and the political sphere such as public-private partnerships in international sustainable initiatives, it is crucial to investigate the role and the effects of SRI in the broader global environmental politics.
My research first frames the actors and practices of SRI as a new site and mode of global environmental governance. It, then, argues that, through SRI activities, in which investors exercise their rights of ownership to enforce CSR, the global financial industry has become capable of creating a new institution that sets up a global environmental private regime, which not only influences multinational corporations’ business activities but also shapes the public discourse on global environmental sustainability. By investigating the evolving institutional architecture, agent network, and shared norm, the research evaluates the effectiveness of SRI as a private environmental regime, as well as its effect in broader environmental policy discourse.
Kusumi, Noriko. “Beyond Politics: The Private Governance Response to Climate Change by Michael P. Vandenbergh, and Jonathan M. Gilligan (Review).” Global Environmental Politics 19, no. 1 (March 5, 2019): 129–30.
Kusumi, Noriko. “Chapter 7: Research and Analysis for Socially Responsible Investment – Challenges and Prospects.” In Environmental Finance and Responsible Investment, edited by Tsuyoshi Mizuguchi. The innovation of Environmentally Conscious Management 3, 2011.